TrueCommerce, Sovos to help businesses with VAT reporting compliance

Tuesday 21 March 2023 08:39 CET | News

Trading solutions provider TrueCommerce has partnered with Sovos to equip customers with solutions for electronic trading, supply chain visibility, and VAT compliance.


The partnership offers EDI (Electronic Data Interchange) and e-invoicing solutions with full tax compliance.

By combining TrueCommerce’s EDI solution for quick, efficient, and accurate exchange of electronic invoices with Sovos’s expertise on e-invoicing compliance regulations and ability to validate companies’ electronic invoices with the local tax authorities, the two market players are able to offer businesses an augmented EDI and e-invoicing solution with full tax compliance.

Trading solutions provider TrueCommerce teams up with Sovos to offer customers solutions for electronic trading, supply chain visibility, and VAT compliance requirements.

Commenting on this partnership, officials from Sovos said that they are excited to partner with TrueCommerce whom they consider a very strong player when it comes to network and supply chain offerings in Europe. Sovos is a player in compliance, but they are not in the B2B network business, so TrueCommerce and Sovos really complement each other.

Staying on top of VAT compliance

Tax authorities around the world are continuing to impose new requirements to increase controls on the transactions between companies with the purpose of increasing efficiency, cutting costs, and fighting fraud. The constant development in the local requirements for VAT reporting across Europe and globally is creating huge pressure for businesses to keep abreast of new requirements, stay compliant and implement global e-invoicing in a consistent, scalable, and cost-effective manner.

Representatives from TrueCommerce said that this relationship is great news for all companies with subsidiaries in multiple countries, especially within Europe, as they need to start thinking about how to automate, centralise, and streamline their processes for meeting the periodic VAT reporting obligations that are inevitably coming their way.

What does Sovos do?

Sovos enables businesses to comply with the e-invoicing compliance regulations, 6 offering solutions specially developed to cover the full cycle of electronic invoicing, from the sending of the documents for the validation with the tax authorities according to the requirements of each country, receipt of validated electronic documents and sending approvals or rejections of documents of suppliers.

More information about TrueCommerce

TrueCommerce is a complete way to connect one’s business across the supply chain, integrating everything from EDI, to inventory management, to fulfilment, to digital storefronts and marketplaces. They’ve revolutionised supply chain visibility and collaboration by helping organisations make the most of their omnichannel initiatives via business point-to-point (P2P) connectivity, order management, collaborative replenishment, intelligent fulfilment, and cross-functional analytics.

The TrueCommerce Global Commerce Network can connect businesses to over 180,000 retailers, distributors, and logistics service providers. As a fully managed services provider, they also manage new trading partner onboarding, as well as the ongoing management of partner-specific mapping, labeling changes, and communications monitoring.

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Keywords: e-invoicing, compliance, partnership, data sharing, ecommerce
Categories: Payments & Commerce
Companies: Sovos, TrueCommerce
Countries: World
This article is part of category

Payments & Commerce




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